19 Dec 2014
USD/CHF consolidates around 0.9800
FXStreet (Córdoba) - USD/CHF steadied in a quite narrow range Friday after reaching a 2 ½-year high the previous day following the unexpected decision of the Swiss National Bank to set negative interest rates to defend the CHF cap.
USD/CHF has spent the day consolidating within 0.9780 - 0.9820 after hitting its highest level in over 2 years at 0.9847 as the franc weakened broadly after the SNB announcement. With investors gearing up for Christmas holidays, the pair might extend its consolidative phase during the next hours. At time of writing, USD/CHF is trading at 0.9790, virtually unchanged on the day.
USD/CHF levels to watch
As for technical levels, resistances are seen at 0.9823 (daily high), 0.9847 (2014 high Dec 18) and 0.9872 (Aug 3 2012 high). On the flip side, supports could be found at 0.9780 (daily low), 0.9721 (Dec 18 low) and 0.9700 (psychological level).
USD/CHF has spent the day consolidating within 0.9780 - 0.9820 after hitting its highest level in over 2 years at 0.9847 as the franc weakened broadly after the SNB announcement. With investors gearing up for Christmas holidays, the pair might extend its consolidative phase during the next hours. At time of writing, USD/CHF is trading at 0.9790, virtually unchanged on the day.
USD/CHF levels to watch
As for technical levels, resistances are seen at 0.9823 (daily high), 0.9847 (2014 high Dec 18) and 0.9872 (Aug 3 2012 high). On the flip side, supports could be found at 0.9780 (daily low), 0.9721 (Dec 18 low) and 0.9700 (psychological level).